Newton Golf Company, Inc. (NASDAQ:NWTG) Shares Shorted: Short Interest Down 49.7% in October

Newton Golf Company, Inc. (NASDAQ:NWTG) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 74,765 shares, a drop of 49.7% from the September 30th total of 148,594 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 332,081 shares, the days-to-cover ratio is presently 0.2 days.

Newton Golf Stock Down 5.6%

Shares of Newton Golf stock traded down $0.06 on Friday, hitting $1.01. The stock had a trading volume of 5,479 shares, compared to its average volume of 216,650. Newton Golf has a twelve month low of $0.70 and a twelve month high of $1.94. The business’s 50 day moving average is $1.12 and its two-hundred day moving average is $1.24. The stock has a market cap of $4.64 million, a price-to-earnings ratio of -0.52 and a beta of 2.47.

Newton Golf (NASDAQ:NWTG) last announced its earnings results on Friday, August 14th. The company reported ($0.49) earnings per share for the quarter. Newton Golf had a negative return on equity of 476.84% and a negative net margin of 124.42%. The firm had revenue of $1.32 billion for the quarter. As a group, equities analysts predict that Newton Golf will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Newton Golf in a research note on Friday, September 4th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Newton Golf presently has an average rating of “Sell”.

About Newton Golf

Newton Golf Company, Inc develops and markets golf equipment and related technology under the Newton Golf brand. The company’s product portfolio is centered on golf shafts designed to support golfers’ performance, consistency and club-fitting needs.

Its offerings include the Newton Motion line of shafts for drivers, irons and putters, along with other golf equipment and accessories. The company sells its products through golf-industry distribution channels and directly to consumers, serving the golf market primarily in the United States.

Newton Golf is focused on applying product design and engineering to the development of performance-oriented golf equipment.